What is budget in SAP PPM-PFM - Portfolio Management?

SAP Term: budget

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: A detailed plan of expenses, revenues, transfers, and start balances for the current fiscal year.

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• Key Concepts: 
  Budget in SAP PPM-PFM Portfolio Management is a financial plan that is used to allocate resources and track spending. It is used to set goals and objectives, and to monitor progress towards those goals. It also helps to identify potential risks and opportunities, and to ensure that resources are being used efficiently. 
  
  How to use it: 
  In SAP PPM-PFM Portfolio Management, budgets can be created for individual projects or for the entire portfolio. Budgets can be set up with different levels of detail, such as by project, by resource type, or by cost center. Once the budget is created, it can be monitored and adjusted as needed. 
  
  Tips & Tricks: 
  When creating a budget in SAP PPM-PFM Portfolio Management, it is important to consider the long-term goals of the project or portfolio. This will help ensure that resources are allocated appropriately and that the budget is realistic. It is also important to review the budget regularly to ensure that it is still relevant and up-to-date. 
  
  Related Information: 
  For more information on budgeting in SAP PPM-PFM Portfolio Management, please refer to the official documentation available on the SAP website. Additionally, there are many online resources available that provide tips and best practices for creating and managing budgets in SAP PPM-PFM Portfolio Management.